‘Economic Suicide’: Colombia Tells Davos It Will Stop Oil and Gas Exploration Contracts

Energy Minister Irene Vélez of Colombia confirmed on Thursday that the South American nation will stop awarding new oil and gas exploration contracts, a decision that she described as “absolutely urgent.”

Vélez made her announcement at the gathering of the World Economic Forum in Davos, during a panel titled “The Different Roads to Energy Transition.” The Colombian minister’s statement follows far-left President Gustavo Petro proposing at the same venue to “decarbonize capitalism” to “prevent the planet’s extinction.”

“We decided that we are not going to grant new gas and oil exploration contracts,” Minister Vélez said, adding, “importers of coal will no longer be importing very soon.”

“This has, of course, been very controversial at the national level, but for us it is a clear sign of our commitment to the fight against climate change,” Vélez continued. “We know that this decision, which is a planetary decision, is absolutely urgent.” – READ MORE